B2B marketplace Jumbotail raises venture debt; SaaS platform SimpliContract lands $1.8 mn
Summary
Bengaluru-based B2B grocery marketplace Jumbotail Technologies said it had raised Rs 35 crore ($4.8 million at current exchange rates) in a venture debt round led by Alteria Capital. Founded in 2015, Jumbotail serves over 50,000 kirana stores via its full stack e-commerce model consisting of its B2B marketplace, warehousing and last-mile delivery supply chain network, and a fintech platform for payment and credit solutions. Bengaluru-based Dropshop Network, which runs a full-stack platform to connect FMCG brands with retailers, said it had raised $1.3 million (Rs 9.3 crore) in a fresh funding round, dubbed pre-Series A. Founded in 2019 by Udit Dhawan, Rohit Fernandes and Ravi Teja, the startup offers a full-stack platform that helps FMCG companies digitize their distribution, starting from sales and logistics to credit to retailers. Founded in 2020 by Ashish Khare and SK Mohanty, the startup offers specialized mentorship programmes for students, working professionals, and entrepreneurs.